Decorative Coatings Market by Technology and Geography - Forecast and Analysis 2022-2026

The decorative coatings market share is expected to increase by USD 19.93 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.04%.

This decorative coatings market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers decorative coatings market segmentation by technology (waterborne coatings, solvent-borne coatings, and powder coatings) and geography (APAC, North America, Europe, South America, and MEA). The decorative coatings market report also offers information on several market vendors, including Akzo Nobel NV, Asian Paints Ltd., BASF SE, Hempel AS, Jotun AS, Kansai Paint Co. Ltd., Masco Corp., PPG Industries Inc., RPM International Inc., and The Sherwin-Williams Co. among others.

What will the Decorative Coatings Market Size be During the Forecast Period?

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Decorative Coatings Market: Key Drivers and Challenges

The growing demand from emerging economies is notably driving the decorative coatings market growth, although factors such as stringent regulations on the use of coatings may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the decorative coatings industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Decorative Coatings Market Driver

Growth in urbanization and an increase in infrastructural investment are driving the construction industry in developing countries such as India and Indonesia. All decorative paints and coatings are applied to buildings and associated structures for decoration and protection. Thus, the increase in demand from end-user industries such as residential and non-residential infrastructure in developing countries is expected to drive the demand for decorative coatings over the next five years. The rise in the GDP of developing economies is also expected to drive the growth of the manufacturing and building industries, which will propel the growth of the decorative coatings market during the forecast period. Furthermore, higher disposable incomes and changing lifestyles in these economies have led to higher growth in the construction market, which, in turn, is inspiring consumers to remodel their homes and buildings according to energy-efficient building norms. Therefore, the global decorative coatings market in the construction industry is expected to have high growth during the forecast period.

Key Decorative Coatings Market Challenge

Solvent-borne coatings consist of volatile chemicals and are harmful to the environment. Various regulatory bodies in Europe and North America have imposed stringent regulations to control the harmful effects of such coatings. The Clean Air Act regulates VOC and HAP emissions and specifies performance standards for controlling emissions from various types of coatings, including solvent-based coatings. The Clean Water Act limits the concentration of toxic chemicals present in solvent-based coatings and wastewater streams. Compliance with these regulations has increased the costs associated with the purchase and use of solvent-based industrial coatings. Thus, stringent regulations formulated by regulatory bodies can reduce the demand for solvent-based decorative coatings, which, in turn, will hamper the growth of the market during the forecast period. 

This decorative coatings market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Decorative Coatings Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Akzo Nobel NV
• Asian Paints Ltd.
• BASF SE
• Hempel AS
• Jotun AS
• Kansai Paint Co. Ltd.
• Masco Corp.
• PPG Industries Inc.
• RPM International Inc.
• The Sherwin-Williams Co.

This statistical study of the decorative coatings market encompasses successful business strategies deployed by the key vendors. The decorative coatings market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The decorative coatings market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Decorative Coatings Market?

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51% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for decorative coatings in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The increase in construction activities, rising income levels of the middle-class population, and rapid urbanization will facilitate the decorative coatings market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Technology Segments in the Decorative Coatings Market?

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The decorative coatings market share growth by the waterborne coatings segment will be significant during the forecast period. The major advantages of waterborne coatings are low toxicity, cost-effectiveness, and excellent surface properties such as anti-sealing effects, high gloss, and rub resistance. The growth of the market is influenced by the rising investments in the construction sector and the growth in the demand for design services. Also, advancements in the level of building design, along with regulations and policies, increase the demand for highly technical design development. Such factors will influence the sales of waterborne decorative coatings during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the decorative coatings market size and actionable market insights on the post-COVID-19 impact on each segment.

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What are the Key Data Covered in this Decorative Coatings Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive decorative coatings market growth during the next five years
• Precise estimation of the decorative coatings market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the decorative coatings industry across APAC, North America, Europe, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of decorative coatings market vendors

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